Digital Transformation is moving the line in many companies. Especially, all the ones existing for many decades… This mutation is raising fears and makes questions burst at any level of the companies. It’s now the time to make sense of this change, as dreadful as promising.
In our companies we are all facing the same cases for action: customer demand, regulation changes, ecosystem, competition, cost reduction or security improvement.
Our traditional business uses a model that’s worked well for many decades, but effectively competing in a rapidly changing business ecosystem requires digital transformation.
Encompassing the mandatory evolution of the market in a connected world and taking into account the 5 SMACS pillars of the Digital Transformation, a company has to initiate changes around 3 main axes: Business model, Customer Experience, Organization & Operation.
Firms have to adapt themselves to that equation, or fail, and even disappear… Look at the Kuoni tour operating business which was finally sold off at the beginning of 2015. This final decision came after several important steps which were not duly reached by this big company: to recognize changing market dynamics; to understand the nature of digital (or when Kuoni could have bought booking.com…); to focus on customer value creation and to propose new business models.
Look out for my next post where I’ll be talking about examples of current complex business area to be changed.